21 ERMS Landscape The volume of unstructured information is exploding Social media and new media have expanded the scope and complexity of electronic information management Decreased storage costs have fueled a culture of oversaving Tools for managing unstructured information have been immature, and unavailable to knowledge workers

22 ERMS Drivers Information overload estimated to cost the U.S. economy a minimum of $900 billion per year in lowered employee productivity and reduced innovation Similar impact globally Poor records management has resulted in severe harm to reputation (Wall St. Journal RIM Wall of Shame)

23 ERMS Drivers Companies typically misfile 3-5% of their records 1.76 hours per day: Searching for and gathering information Average cost to recreate a lost document is ~$180/document Large organizations lose or misfile approximately one million records per year, at an annual cost of $5 million/year

25 Legal and Compliance Benefits of ERMS Solutions Assists organizations in complying with a multitude of records retention requirements Increases ability to promptly and properly comply with requests for information from regulatory authorities Enhances ability to meet data privacy and security obligations (access rights, audit trails, etc.) Eliminates the use of backup tapes as a poor substitute for ERM

26 Legal and Compliance Benefits of ERMS Solutions Reduces risk of sanctions for legal hold violations and/or failure to timely provide relevant records and information Lessens risk of an incomplete or inaccurate record of organizational activities Enhances argument that helpful records and information should be admissible in evidence

27 Other Business Benefits of ERMS Solutions: Preservation of Corporate Knowledge Preserves institutional knowledge, especially with employment mobility and downsizing Safeguards vital corporate records and enables continuity of operations in the event of emergency or disaster Provides a legally defensible basis of not keeping everything forever! (U.S. Supreme Court in Arthur Andersen case)

28 Other Business Benefits of ERMS Solutions: Enhanced Information Sharing Promotes knowledge-sharing, and improves staff access to needed records and information Increases confidence in integrity of corporate records, leading to wider recognition of their information value and more effective use of them Avoids re-creating the wheel (e.g., by permitting use of prior contract as basis for new contract)

29 Other Business Benefits of ERMS Solutions: Improved Decision-Making and Responses Enables swifter, more effective, and comprehensive evidence-based decision-making Facilitates faster, more accurate responses to customers and shareholder inquiries Provides management with better data on number of records created, searched and retrieved, and turnaround times, which allows new metrics to be defined, tracked and reviewed in order to facilitate targeted improvements

30 Other Business Benefits of ERMS Solutions: Financial Benefits Savings in staff time required to file records and information Savings in staff time required to retrieve information Savings in staff time required to re-create the wheel

36 Organizations that Paid a Price for Poor Records Management Who: Philip Morris USA/Altria Group When: July 2004 Accusation: Deleted that was over 60 days old for more than two years after a legal order to preserve all documents relating to litigation. Failed to follow the company's internal procedures for document and preservation. Consequences: $2.75 million fine

47 Vendor Recommendations Look for Systems that: Are owner-customizable as to Features and Functionality Focus on the entire RIM lifecycle Allow for easy identification and disposition of records when no longer needed Supports exporting in a variety of formats

48 Questions to Ask about ERMR Solutions What is the vendor using to manage print and ESI Records? What are references for other similar successful implementations? How do they differentiate in risk and cost reduction versus their competition?

51 Technology Selection & Implementation: Needs Assessment and Project Plannning Questions to Ask for Needs Assessment: What are our current and future anticipated needs from an ERMS? What records do we want to capture and manage using our ERMS? What formats do we use now, and which are we likely to use moving forward?

52 Technology Selection & Implementation: Needs Assessment and Project Planning Questions to Ask for Needs Assessment: What is our legal framework and how does that affect our decision? How do we use records now and how do we anticipate using them in the future? How should records be organized and indexed to facilitate retrieval?

53 Technology Selection & Implementation: Needs Assessment and Project Planning Questions to Ask for Needs Assessment: How do our records fit into our current workflow? How will we need to modify our workflow to accommodate each ERMS under consideration? At what points in our workflow will we need to capture records? How will we dispose of records in our ERMS? Will the system allow us to transfer, convert and/or migrate easily? Will the new tools integrate easily with our existing IT architecture, tools and RIM workflows (Don t let tail wag the dog).

56 Technology Selection & Implementation: Proof- of-concept Develop critical success factors (e.g., usability, etc.) that should be vetted during the POC Identify the POC participants Make reasonable adjustments to the conceptual model and policy/ business decisions based on solution capabilities

57 Technology Selection & Implementation: Proof-of-Concept Ensure legal involvement in the execution of the POC Assess how the vendor solution performs against the critical success factors of the POC Seek budget approval for selected vendor or otherwise determine next steps

60 Lessons Learned from Prior ERMS Solution Implementation Projects Define success at the start Incorporate stakeholders and business units throughout at all key points in project Focus on defining business and legal requirements Require vendor to show you that solution does what it purports to do Invest in rigorous project management in all phases of the Project

61 In Summary. The right ERMS Solution can enhance a company s ability to create a records management and e-discovery architectural framework that: Is reasonable and legally defensible Is able to manage information that needs to be retained for business, legal, and/ or historical reasons Is user-friendly Reduces time and cost of records management and e-discovery for e- mail and Microsoft Office content Treats records management and e-discovery as a repeatable, verifiable, and measurable business process

62 Sacred Records Management Truth The Value of Information is Proportionate to its Accessibility

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